July 01 2021

PHASE 1 - CORE ASSETS

  • Document and review core asset inventory, determine level of confidence in data and reduce any asset inventory and condition data gaps.

  • Document existing levels of service for core assets in accordance with the prescribed technical and qualitative metrics  defined in the regulation.  

  • Complete lifecycle analysis and assess risk/criticality of each core asset to inform future desired levels of service considering associated economic, social and environmental risks for a 10-year projection. 

  • Determine estimated costs of capital expenditures and significant operating costs due to service growth. 

July 01 2023

PHASE 2 - ALL OTHER CORPORATE ASSETS

  • Review and make any required adjustments or updates to core asset inventory.

  • Update asset inventory to include all assets owned by the Corporation defined as a tangible capital asset in accordance with Public Sector Accounting Board reporting guidelines. 

  • Document existing levels of service for all other assets by means of qualitative and technical metrics established by the municipality.

  • Complete lifecycle analysis of all other assets considering associated economic, social and environmental risks for a 10 year projection.

  • Public engagement on community desired levels of service.  

  • Determine the estimated costs of capital expenditures and significant operating costs due to service growth.


July 01 2024

PHASE 3 - FINANCING, AND ESTABLISH LEVELS OF SERVICE

  • Review and make any required adjustments or updates to the asset management plan. 

  • Develop proposed technical and community levels of service - considering affordability and sustainability for a 10-year projection. 

  • Update asset lifecycles and risks models as necessary to reflect proposed levels of service.

  • Identify financial strategies to deliver proposed levels of service and address funding shortfalls.

  • City Council approval of proposed levels of service. 

  • First annual progress report to Council.